Common use of Payments by the Paying Agent Clause in Contracts

Payments by the Paying Agent. No Obligation) if the Paying Agent makes a payment in respect of Covered Bonds at a time at which the Fiscal Agent has not received the full amount of the relevant payment due to it under Clause 7.1 (Issuer to pay Fiscal Agent), and the Fiscal Agent is not able out of the funds received by it under Clause 7.1 (Issuer to pay Fiscal Agent) to reimburse the Paying Agent therefor (whether by payment under Clause 8.3 (Reimbursement by the Fiscal Agent) or appropriation under Clause 8.4 (Appropriation by Fiscal Agent)), the Issuer shall from time to time on demand pay to the Fiscal Agent for the account of the Paying Agent:

Appears in 2 contracts

Sources: Fiscal Agency Agreement, Fiscal Agency Agreement